Advisers and wealth managers remain extremely cautious about claims made by ESG funds for fear they will get caught up in greenwashing scandals, a survey has found.
The percentage of investment advisers who say they "completely trust" sustainability claims from funds has fallen from 1% to zero, according to the ESG Attitudes Tracker from the Association of Investment Companies (AIC). On a scale of one to five, most respondents (51%) rated their level of trust as ‘three', indicating limited trust. Advisers told the researchers that recommending funds based on misleading claims puts their business at risk. One adviser said: "I am concerned about [greenwashing] because to recommend something on the basis that it meets my client's desires for investm...
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